Barclays analyst, Kannan Venkateshwar, reiterated his Neutral rating on shares of Netflix (NASDAQ: NFLX) and believes that the Q2 miss was partly due to its modeling framework which overestimated subscriber trends. This would also imply that the company's adjustment for Q3 makes that guide conservative.

The analyst believes Netflix will come in better than expectations for the quarter due to "continued strength in interest levels as gagued by app downloads, search volume, specific comment about certain countries (news about strength in France, 3.5MM subs at a $14 penetration)".

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $348.50 yesterday.